There are pitfalls to overcome in any real estate transaction, and a Seller alone would have no way of knowing to expect many of them. There are no two homes, neighborhoods, sellers, buyers, loans, inspections, appraisals, disclosures, or repair issues the same in any two transactions, which leaves many areas open for problems! After years of combating these problems, I am well armed to advise my sellers of the best approach to prevent issues from arising, or solve a problem if it does arise.
Even if a For Sale By Owner sign did produce a buyer knocking on your door, that is just the beginning of a long line of steps and procedures to get through. For those that have tried to sell your own home, you know exactly what I mean! I often approach Sellers marketing their own homes, for permission to show their property to my buyer clients, and these people are happy to have an experienced Realtor show their home to a qualified buyer! Why? Because they know more than most that the job is not as simple as it looks!
I recently listed a home for a gentleman who had been For Sale By Owner for several months. Surprised when he called me, as I heard he had already sold, I said, "I thought you'd sold your home already". His reply was, "so did I - three times! I would not have your job for all the money in the world and I want your sign in my yard today!"
There are just so many issues that can "kill a deal" along the way. Issues a seller would have no way to know about, but an experienced Realtor knows the warning signs of these.
For example:
The buyer has a pre-qualification letter.
--- Many are not worth the paper they are written on.
--- Is this for a conforming or "non-conforming" loan? Non-conforming can have many pitfalls and generally very late in the game. No one has any obligation to disclose this information to a seller, not buyer or mortgage company. However, as a Realtor representing the best interest of my Seller, I would have every obligation! And experience has taught me several key conditions and "buzz words" that warn a loan may be non-conforming!
--- What type of loan is the buyer seeking? There are many, with several having high expectations about the condition of the property, which can cause problems later. I know which loans carry special problems and the steps we should take early on to ensure it does not cause later pitfalls!
Is the home on the market at a Fair Market Value? This involves much more than asking neighbors what their home is on the market for!
--- A home must appraise for the sales price in order for a buyer to secure financing. Even those paying cash are not going to pay more than market value, and generally have appraisals done also. I know what appraisers look for and even some things that can be done before the sign goes up to ensure higher appraisals. Please go to my RESOURCES page at the top of this page, then "Real Estate Tips", and to "Professional Appraisals" for a bit more info on this topic.
If an offer is made on a For Sale By Owner, who has the expertise to draft the paperwork?
--- For an agent who "overwrites" contracts to the smallest detail, uses every line of other conditions, and often adds addendums in an effort to protect my client, there is not enough room on this entire website for me to give my opinion on this one! However, I believe the answer to successful contracts is found in the simple word - "one". For just "one" important word included or "one" important word omitted can have a huge effect on "one" party or the other!
AM I SAYING THAT NOTHING CAN GO WRONG IN A REALTOR-LISTED SCENARIO? OF COURSE NOT! BUT I AM SAYING THAT YEARS OF EXPERIENCE AND EDUCATION IN THE MARKETING OF HOMES DOES MAKE A HUGE DIFFERENCE.
AM I SAYING THAT A PROPERTY CANNOT SUCCESSFULLY GET TO THE CLOSING TABLE WHEN YOU SELL YOUR OWN HOME? OF COURSE NOT! BUT I AM SAYING THAT THE ODDS OF DOING SO WITHOUT PITFALLS ARE NOT IN THE SELLER'S FAVOR.
THE BUYER'S VIEWPOINT: Most buyers in the market today are very educated and sophisticated. They know much more than their counterparts of even 10 years ago. These "educated buyers" are the single largest reason why a For Sale By Owner sits for much longer than one in the same neighborhood by a Realtor. Buyers generally tell me that they wish only to see a For Sale By Owner as last resort, and only if the seller agrees to let me show it to them.
With all due respect to the seller who really wishes to sell their own home: in a nutshell, today's buyers are leary on several levels about purchasing through a For Sale By Owner. This is not an opinion, but an observation:
--- A few of the comments buyers have voiced to me on this topic:
"I always wonder when a seller is not using a REALTOR®, if it means something is wrong with the property."
"If they are selling themselves to save money, it means I would be paying the same price as other homes in the neighborhood, but will not receive the service, protection, or representation of my REALTOR®. The only way I would buy one is if the price was dirt cheap!"
"It concerns me that there is no Realtor on that seller’s end telling them the rights and obligations of buyers and sellers, as you have been telling us on this end."
"It is just not apples for apples for a For Sale By Owner’s list price to be the same as properties sold in their neighborhood by Realtors – the home has one value and the service of the agents has another. And, even if they would come down some, I am still paying for part of a service that was never rendered!"
Selling your home is one of the most important financial transactions you will make in your lifetime. Going through several offers and purchase agreements with the risk of having them fall apart 30 or 40 days down the road can tie up your home for months. And that time can be costly in many ways - more house notes, inability to move forward with new plans, or loosing out on a home you wish to buy. Don't take risks. Selling your home is nothing like selling a car. Every home is different and unique. You, your family and your needs are unique. And, every homebuyer is different, with most wanting the comfort of a Realtor-listed property to make an offer on.
Almost all homes are sold using a REALTOR®. As a top real estate professional, I've spent the last 25 years representing and guiding sellers through the home selling process. I will take you from suggestions to prepare your home for sale to explaining the New Louisiana Property Disclosure Document, and taking care of all marketing, paperwork, contracts, appointments, inspections, and negotiations to ensure you get the highest possible value. In short, I will be in this with you from start to finish! LET'S PUT YOUR HOME ON MY VERY LONG SOLD LIST!
Should you decide to list your home, please read the pages on this site for "Why Sellers Choose Me" and "Free In-Home Presentations", where I cover in depth the need for INTERVIEWING agents for the position! And of course, I would be happy to be included among those you decide to interview!
I can provide you with a listing presentation for you wherever your home is in East Baton Rouge, West Baton Rouge, Ascension, Livingston, Iberville, or Pointe Coupee Parish.
Tell me a bit about yourself and your home in the form below and I will be happy to email or call you to set up a no obligation interview about listing your home.
it is free!
PLEASE INCLUDE in "Additional Info" the town, subdivision, or neighborhood where your home is located.
- NUMBER1EXPERT™ 
